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moneyforex.com Review

Updated: Jun 16, 2015
1.804 · 24 REVIEWS
Is this your company?

November 17, 2008 CONFIRMED SCAM CASE

The Forex Peace Army recommends against opening accounts or placing any funds with MoneyForex. The FPA further recommends withdrawing any funds you may have on deposit with them.

UPDATE:  Website is down.  One less scam company in business.



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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty1
Case IDFiledCase nameVerdict
20082008-11-17FPA Scam Confirmation against MoneyForex.comguilty


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1.804 · 24 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Jun 9, 2009,

moneyforex i like their platform, but they don't allow scalping, i have never make money with them and when i do they start changing something rules. i make a lot of money scalping and they did not like it
Mar 5, 2009,

I should have checked your site before. The biggest crooks ever in forex is moneyforex. Stay away from they . you could loose all your money.

I have a winning of almost 30k and they are not giving me. just imagine my state.
Oct 20, 2008,

Issue escalated to Traders Court FPA Scam Confirmation against MoneyForex.com | GUILTY
They have suspended my account for basically no good reason and withholding my money indefinitely. These people are scammers.

More. Community discussion of this issue >>

Dec 8, 2007,

Managed Account Depleted in 1month 2k
Oct 27, 2007,

Possibly one of the worst, if not the worst company I ever did business with. First of all to withdrawal money from your account they charge huge fees. The fees are something like 25% of your capital. Second the platform really sucks. Sometimes I get strange messages like the pair I want to execute is not available, and so on.
Oct 9, 2007,

They have a good platform. Actually to suit their needs. If you are not alert they will steal all your money.

Kuala Lumpur, Malaysia,
Sep 23, 2007,

I am suprise to see my broker get a single star. Being with this broker for 6 month now and feel that I am being treated fairly, not like others who commented. Their service is rated a least 4 stars and the platform is very efficient than others which I believe could be 5 stars. Anyway, so far I had been depositing and withdrawing from this broker and never face any problem. My trading has been positive so far and hopefully it continue. Keep my finger cross.
Sep 4, 2007,

SCAM...SCAMMER...SCAMMED...this idiot broker is full of s****. Out of so many lies of them, one had really get me to the nerves. It happened when i want to close account with them. They deduct me USD25, which they said is "closing acc fees". I challenged them to show me where in their terms had mentioned bout this bulls***. U know what they did? They quckly ADDED a sentence about it at the withdrawal form and had the gut to ask me to re-check it(those who are using this broker can check urself http://www.moneyforex.com/withdrawing.php, the last line). But these stupids forgot i had SCANNED a withdrawal form to them earlier, and there was no such sentence in it! If they are so cunning to behave like a sicko like this, then YOU should be careful. I have all the proofs (their mails, my scanned form and others). Those who think im lying, can mail me at maran_north623@hotmail.com, and i can show u all the proofs!!! Take my word for it.
*Felix, plz just rate them to SCAM, at least we can save others.
St. Kilda, Australia,
Aug 11, 2007,

I was suprise to read unfavourable review about this broker because my experience with them is good for the past one year. Unlike many brokers, the uniqueness of this broker is they has a fixed spread even on a important new releases. And they never place the platform into frozen mode which I has few bad experience with few other high profile brokers. As for slippage, I has a little discomfort at first but I inform moneyforex about it and they fixed the problem right away with placing my account under higher acceptance range which solve the sliipage proble right away. One of the feature that I like is the "One Click Trading" whick I think is cool and no reqoute at all.

Needless to say, this broker is under rated and will give them at least a 4 stars with the great job they had done.
Saitong, Thailand,
Jul 22, 2007,

I find this broker has a non dealing desk operation aan that is what I like about it. I am a news trader and I never get any wide spread whenever news releases like important economics indicators. I felt it has a lot of good features on the platform and so far after 6 months of using them without any complaint.